The term growth and development both refers to dynamic process. Often used interchangeably, these terms have different meanings. Growth and development are interdependent, interrelated process. Growth generally takes place during the first 20 years of life.; development continues after that. Growth:

1. Is physical change and increase in size.
2. It can be measured quantitatively. 3. Indicators of growth include height, weight, bone size, and dentition. 4. Growth rates vary during different stages of growth and development. 5. The growth rate is rapid during the prenatal, neonatal, infancy and adolescent stages and slows during childhood. 6. Physical growth is minimal during adulthood.

Development: 1. Is an increase in the complexity of function and skill progression. 2. It is the capacity and skill of a person to adapt to the environment. 3. Development is the behavioral aspect of growth.

...Economic Growth is the increase per capita gross domestic product (GDP). There is a distinction between nominal and real economic growth, where the first is the growth rate including inflation, while the second is the nominal rate adjusted for inflation. Moreover economic theorists distinguish short-term economic stabilization and long-term economic growth. The topic of economic growth is mainly related to the long run....

...PART 1
Explain how the Solow growth model would analyse the effects of a fall in the household saving ratio.
In this essay, I will focus on two important aspects. The first is to give a brief historical
outline of the Solow growth model. The second thread runs express how the outline on the Solow growth model might explain the effect of a fall in the household savings ratio.My essay will be guided by the diagram provided on which I have to...

...N. GREGORY MANKIW
Harvard University
The Growth of Nations
in the world's richest countries are more than ten
times as high as in the world's poorest countries. It is apparent to anyone
who travels the world that these large differences in income lead to large
differences in the quality of life. Less apparent are the reasons for these
differences. What is it about the United States, Japan, and Germany that
makes these countries so much richer than India, Indonesia, and Nigeria?...

...foreign direct investment on economic growth in China during the period 1992-2003. The research is based on data indicators of level of GDP and FDI for China during this time period. In research was used simple ordinary least squares method. Through econometric model we defined the relationship foreign investment and economic growth in terms of simple regression. The empirical results show positive but insignificant impact of foreign investment on economic...